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BM Solutions Product Transfers from 2.79%

  • Existing Birmingham Midshires borrower?
  • Looking to request a Product Transfer?
  • Make one simple phone call to 020 8979 9684
  • Prefer to work online? click here

As an existing Birmingham Midshires Buy to Let mortgage account holder you will need assistance when your current buy to let rate ends to avoid moving onto the BM Solutions revert rate of 5.09%.

You need to arrange a product transfer with Birmingham Midshires and this can only be done through specialist brokers like ourselves. The good news is that we can arrange a BM Product Transfer for you swiftly, easily, and free of charge.

Even better, we assist you, without meetings and without paperwork.

Today’s BM Solutions Buy to Let Product Transfer Rates

Two year BM Buy to Let product transfer fixed rates

  • 2.79 Fixed until 31/01/2022 £999 product fee (can be added)
  • 3.34 Fixed until 31/01/2022 no product fee

Five year BM Buy to Let product transfer fixed rates

  • 3.09 Fixed until 31/01/2025 £999 product fee (can be added)
  • 3.49 Fixed until 31/01/2025 no product fee

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The cost of inaction

If you have borrowings of just £150,000 you are wasting up to £162 a month by not moving off of the BM revert rate.

That’s like paying for a Gas Safety Certificate every month.

How it works

We need the following information to arrange your BM Solution Buy to Let mortgage product transfer.

  • Your mortgage account number (11 digits starts with a 2)
  • The full postal address of the buy to let property
  • Your full name(s) and contacts details
  • Your home address
  • Your date of birth

Once we have the above we can check with the lender your outstanding mortgage balance, lenders estimate of your property value and your product transfer options.

You can then decide your preference.

We then request the new rate from the BM on your behalf and you have a single Authority Form to sign.

That’s it.

Today’s BM Solutions Let to Buy Product Transfer Rates

Applicable if you Let the property previously in order to purchase another

Two year BM Let to Buy product transfer fixed rates

  • 2.79 Fixed until 31/01/2022 £999 product fee (can be added)
  • 3.34 Fixed until 31/01/2022 no product fee

Five year BM Let to Buy product transfer fixed rates

  • 3.09 Fixed until 31/01/2025 £999 product fee (can be added)
  • 3.49 Fixed until 31/01/2025 no product fee

BM Solutions Buy to Let and Product Transfer Early redemption penalties

Two year fixed rates

  • Year 1 – 3% early redemption penalty
  • Year 2 – 1% early redemption penalty

Subject to change – Check your mortgage offer for details on your own mortgage contract

Five year fixed rates

  • Year 1 – 5% early redemption penalty
  • Year 2 – 4% early redemption penalty
  • Year 3 – 4% early redemption penalty
  • Year 4 – 3% early redemption penalty
  • Year 5 – 2% early redemption penalty

Subject to change – Check your mortgage offer for details on your own mortgage contract

BM Solutions Let to Buy Purchase and Remortgage Early redemption penalties

Two year fixed rates

  • Year 1 – 3% early redemption penalty
  • Year 2 – 1% early redemption penalty

Subject to change – Check your mortgage offer for details on your own mortgage contract

Five year fixed rates

  • Year 1 – 5% early redemption penalty
  • Year 2 – 4% early redemption penalty
  • Year 3 – 3% early redemption penalty
  • Year 4 – 2% early redemption penalty
  • Year 5 – 1% early redemption penalty

Subject to change – Check your mortgage offer for details on your own mortgage contract

How do BM Solutions product transfer rates compare?

The rates available from Birmingham Midshires on product transfer are competitive, but they may be more favourable rates available elsewhere on the market.

Being whole of market brokers we can, if requested, run a comparison for you so that you can ensure you get the best deal possible.

Remember, if you decide to move to a new lender rather than taking a product transfer you will need to:

  • Pass a credit score with the new lender
  • Have the property valued
  • Prove your rental income*
  • Prove bank statements (with most lenders)
  • Prove your earned income (with most lenders)
  • Cover legal costs (although some lenders will pay these for you)

*Recent changes to rental calculations across the buy to let mortgage may mean that under current circumstances your rental income may not be sufficient to support your existing lending. This may stop you raising funding from a new lender, but does not affect your ability to request a product transfer

BM Solutions Further Advances

What if I want to raise additional funds?
Should you wish to raise extra funding against your property we can help you with this.

Further Advances are available from BM Solutions today at a rate of 3.29% with no product fee.

That extra funding can be raised in one of three ways.

  • Via Birmingham Midshires – Further Advance
  • From a second lender – Second Charge Lending
  • From a new Lender – Through a full re-mortgage

We can help you decide the best options available to you and handle everything.

Remember, we are an online independent mortgage broker which means no meetings and no paperwork.

Further information on Buy to Let Mortgages

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